21 Current liabilities
2019 | 2018 | |
Trade payables | ||
|---|---|---|
Received in advance | 7 | 5 |
Trade accounts payable | 1,330 | 1,405 |
Notes and cheques due | 1 | 3 |
Owing to associates and joint ventures | 7 | 17 |
Total Trade payables | 1,345 | 1,430 |
Income tax payable | 42 | 100 |
Other current liabilities | ||
Other taxes and social security contributions | 46 | 58 |
Interest | 19 | 21 |
Pensions | - | 3 |
Investment creditors | 115 | 109 |
Employee-related liabilities | 268 | 293 |
Payables associates and joint ventures relating to cash facility | 5 | 5 |
Other liabilities | 25 | 36 |
Deferred items | - | 2 |
Total Other current liabilities | 478 | 527 |
Total current liabilities | 1,865 | 2,057 |
Included in trade accounts payable are amounts due to suppliers which could be part of a supply chain finance arrangement between the supplier and a third-party bank. DSM suppliers have the option to enter into such supply chain finance arrangements with third party banks, which provides them with the option of earlier payment based on terms linked to DSM's investment grade credit rating. If a supplier chooses to participate in such an arrangement, this does not impact the classification of the trade payable for DSM as these supply chain finance arrangements are concluded between the banks and the suppliers and do not alter the payment conditions between the supplier and DSM. Therefore, these amounts remain classified as trade payables.